|
|
Correlation analysis helps identify the relationship between two or more companies, showing how they move about each other. It helps assess patterns, manage risk, and improve decision-making by revealing which assets correlate positively or negatively.
|
|
|
|
| Symbol | Correlation |
| |
0.739094 |
| |
0.739085 |
| |
0.739030 |
| |
0.739030 |
| |
0.739003 |
| |
0.738975 |
| |
0.738972 |
| |
0.738965 |
| |
0.738954 |
| |
0.738892 |
| |
0.738861 |
| |
0.738847 |
| |
0.738716 |
| |
0.738712 |
| |
0.738694 |
| |
0.738693 |
| |
0.738687 |
| |
0.738656 |
| |
0.738563 |
| |
0.738563 |
| |
0.738519 |
| |
0.738499 |
| |
0.738499 |
| |
0.738347 |
| |
0.738283 |
|
|
|
|
|
 Stock Correlation - Explanation
Stock Correlation is the statistical measure of the relationship between two stocks. The correlation coefficient ranges between -1 and +1. A correlation of +1 implies that the two stocks will move in the same direction 100% of the time. A correlation of -1 implies the two stocks will move in the opposite direction 100% of the time. A correlation of zero implies that the relationship between the stocks is completely random. Correlations do not always remain stable and can even change on a daily basis. Correlation analysis can help you to diversify your positions. An imperfect correlation between two different stocks allows for more diversification and marginally lower risk.
|
